The date for linking PAN with Aadhaar has also been extended further till March 31, 2021
The due date for filing ITR for FY2019-20 has already been extended till November 30, 2020
Sitharaman further said the income tax department will fast track processing of pending refunds to charitable trusts, LLPs, non-corporate businesses and proprietorship firms, among others
Government support in the form of 12% employer and 12% employee contribution extended for another three months - June, July and August
Last date for filing March, April and May 2020 GST returns extended to June 30, 2020
The notification of the returns followed Budget announcements making income-tax return filing mandatory for certain persons even if their income was below the taxable limit
Be ready for a long haul even if there are punching errors from these service providers
Good news is that the income-tax department has extended the last date for filing ITR from July 31 to August 31, 2019
What are income-tax returns? Must you file them? What if you did not? What are the benefits of filing an ITR? How do you get a refund for any excess tax deducted? Find answers to all your questions
Also, any person claiming the benefits of tax exemption from long term capital gains under various provisions under section 54 of the Income Tax Act will have to file a tax return
A new filer is defined as a person who is not included in the base at the beginning of the year
Under the new format, Part B has been amended to provide more details about the allowances exempt under section 10 and deductions allowed under Chapter VI-A of the Act i.e. section 80C to 80U
Reporting all your income, linking Aadhar card with PAN card, and having required documents are some of the do's one should keep in mind while filing ITR
While the I-T dept's e-filing website showed returns filed in 2018-19 fell to 6.68 cr from 6.74 cr in the previous fiscal, the CBDT clarified that returns filed included those of previous AYs
The move will help in bringing down the income tax return (ITR) processing time to one day and hence speed up refunds
If a freelancer is into certain specified professions, he'll need to maintain books of accounts as per Rule 6F if his gross receipts exceed Rs 150,000 in any of the 3 immediately preceding years
The nature of the income arising out of trading in F&O will depend on the volume and frequency of trade and the motive of such transaction
ITRs for 2018-19: Assessees have to provide detail calculation of these incomes
The new Sahaj form wants you to disclose specific details about your salary. Here are a few things you as an Income Tax Returns (ITR) assessee must know
This is the second extension given to them after the first deadline expired on September 30 and it was extended until October 31.